Real Estate Column

Available space in Warner Center just keeps shrinking. Four new tenants will soon move into the Trillium in Warner Center, bringing the occupancy rate in that high-rise office tower to 97 percent, according to Jim Lindvall, senior vice president at Grubb & Ellis Co., who represented the Trillium in all the deals. Three of the tenants Oracle Corp., Superior Consultant Holdings Corp. and Ryland Mortgage Co. will each occupy a full floor at the Trillium. Computer software maker Oracle, with local offices in El Segundo, signed a 64-month lease for 15,388 square feet. It plans to open a new sales office there, to service the West San Fernando Valley. Warren Wixen, a broker with Bailes & Associates in Brentwood, represented Oracle. Superior Consultant Holdings, a Southfield, Mich.-based company specializing in information technology, is relocating to the Trillium from its Simi Valley offices. It plans to consolidate three of its current Los Angeles-area offices at the Trillium. “It will be our Los Angeles corporate offices,” said Keisha Koehler, a business assistant for the company. Superior, which recently signed a partnership agreement to develop and design solutions for Microsoft Corp., has acquired two local companies since last year, Aviant Information, a technology company that specializes in health care, and Clark Industries, specializing in data processing. Lindvall also represented Superior in its six-year Trillium lease. Trillium’s third new tenant, Ryland Mortgage, is relocating from Washington, D.C., to an 18,243-square-foot space in the high-rise. The company was represented by Lawson Martin of Travers Realty. In addition, OAO Healthcare in Chatsworth signed a lease for 9,700 square feet at the Trillium. Nancy Stark at CB Richard Ellis Inc. represented the tenant in that deal. The monthly lease rates for the deals average about $2.30 per square foot, according to sources. One full floor remains vacant at the Trillium. Agoura development underway A plan to build a 100,000-square-foot office building in Agoura Hills was approved earlier this month by that city’s planning commission. Silagi Development and Management plans to develop the $13 million project, called Agoura Gateway, on the south side of the Ventura (101) Freeway between the Kanan Road and Chesebro Road exits. Moshe Silagi said monthly rents for the building, which he is constructing on a speculative basis (without any tenant commitments), will range from $1.95 to $2.10 a square foot. Construction is slated to begin within six months. The project is one of three that Silagi is developing in Agoura Hills. The company has begun construction on the first phase of Canwood Plaza at 29229 Canwood St. That project is designed to include two buildings, each with about 50,000 square feet of office space. Silagi said he expects to complete construction on the first of the buildings by February of next year. Once the building is 65 percent leased, he will proceed with the second building. In addition, Silagi plans to build a 55,000-square-foot building on the north side of Canwood Street. No date has yet been set for construction. The three buildings will each be two-story structures with skylights in the lobbies, interior marble and other class-A architectural features. Tony Principe and Darryl Zilberstein at Westcord Commercial Real Estate Services are marketing the property. Van Nuys lease Prep Department Inc., a graphics company, leased a 38,000-square-foot industrial building in Van Nuys. The five-year lease is valued at $1.1 million, according to Todd Lorber of Grubb & Ellis, who represented the tenant and lessor, the Tillman Family Trust of Venice, in the transaction. The building is located at 7950 Haskell Ave. New digs for BET Black Entertainment Television Inc. has leased a 27,612-square-foot office building in Burbank. BET, which is currently located in Burbank, expects to move its office and post-production facilities to the new offices in December. Robert D. Erickson, Matthew Cusumano and Brett Warner of Lee & Associates represented the landlord, Crown Realty and Development Inc., in the 10-year deal. Marc Sobel at JM Zell Partners Ltd. represented BET. Starting fresh Baja Fresh has signed a lease for 7,000 square feet of office space in the Legacy Oaks Corporate Centre in Westlake Village. The restaurant company is moving its corporate headquarters from another Westlake Village location where it occupied 4,000 square feet. Tom Festa, a broker with Grubb & Ellis, represented Legacy Oaks. Tony Principe, a broker with Westcord Commercial Real Estate Services, represented the tenant in the five-year lease valued at $1 million. Burbank move GCB Communications Inc., a Phoenix-based company that supplies vending machines and payphones, has leased a 32,000-square-foot building in Burbank, according to Ron Feder, who with Marcus Feder at R.J. Feder & Associates Inc. represented the company in the transaction. GCB will use the new space at 3333 N. San Fernando Rd. for offices and warehouses. The company will relocate about 40 employees from its current 18,000-square-foot office facility in Van Nuys. Brett Warner at Lee & Associates represented the landlord, Sahari Corp., in the five-year transaction valued at under $1.6 million. Swapping ownership Northeast Valley Industrial Parks LLC acquired a 5.25-acre parcel of land and 99,694-square-foot warehouse building for $5.5 million. The site, at 7355 Lankershim Blvd. in North Hollywood, has been used to hold swap meets. David Hoffberg of Delphi Business Properties represented the buyer. California Prudential Realty of Palm Desert represented the seller, Papel Property Co.